Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.024%
Price spread now: Lighter against Phoenix−0.027%7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$590.589% of the position
Funding, last 7 days+0.320%+$32 on $10k
+Price spread, last 3 days (all we have)−0.099%−$10 · spread now −0.027%, 7d avg +0.033%
=Together, before fees+0.221%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.060% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.033%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MON | 0.02572 | 0 | get 0.0000% / 1h | 26m 59s | $13K | $360K | 5x |
| Short | Lighter MON | 0.02571 | 0.0096 | get 0.0012% / 1h | 26m 59s | $854K | $793K | 10x |
Phoenix MON
Lighter MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.16
- Price spread: −0.027% → +0.033%
- −$6.03
- Slippage, 4 orders
- −$51.91
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$44.78
- Costs to cover
- 0.589%
- Break-even
- 22.5 days
Slippage from Phoenix: live order book, 49 min ago; Lighter: live order book, 48 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix live order book, 49 min ago | 1.16 bp | 12.9 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 48 min ago | 11.64 bp | 11.7 bp −$12 | 116.8 bp −$1,168 | doesn't fit | doesn't fit |
MON on 33 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MON/USDC PERP | −0.0121% | 1h | 0.02576 | +0.167% | $6K | $107 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0072% | 1h | 0.02569 | −0.086% | $6K | $1K | 5x | as long as short |
| Bybit MONUSDT | −0.0032% | 8h | 0.02568 | −0.144% | $21.3M | $12.1M | 50x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02572 | long leg | $13K | $360K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02570 | −0.062% | $69K | $119K | 25x | as long as short |
| Orderly PERP_MON_USDC | +0.0068% | 4h | 0.02568 | −0.144% | $17K | $64K | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0085% | 1h | 0.02573 | +0.068% | $2K | $75K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0095% | 8h | 0.02567 | −0.171% | $8K | $42 | 5x | as long as short |
| Lighter MONshort | +0.0096% | 1h | 0.02571 | −0.027% | $854K | $793K | 10x | |
| Hyperliquid MON | +0.0100% | 1h | 0.02575 | +0.113% | $34.9M | $7.6M | 5x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Bybit MONUSDT
Deribit MON_USDC-PERPETUAL
Orderly PERP_MON_USDC
Aftermath Perps MONUSD
Paradex MON-USD-PERP
Hyperliquid MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02568 | −0.127% | $108K | $231K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02570 | −0.072% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02569 | −0.117% | $142K | $105K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02569 | −0.096% | $24.5M | $25.4M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02568 | −0.144% | $4.3M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02570 | −0.066% | $108K | $390 | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02568 | −0.144% | $978K | $909K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02571 | −0.027% | $2.7M | $1.9M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02571 | −0.043% | $128K | $141K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02568 | −0.136% | $778K | $408K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02569 | −0.124% | $47K | $242K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02573 | +0.051% | $583K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02572 | +0.012% | $69K | $481K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02574 | +0.098% | $392K | $544K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02569 | −0.105% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02576 | +0.165% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02568 | −0.124% | $39K | — | 3x | as long as short |
| KuCoin MONUSDTM | +0.0258% | 4h | 0.02573 | +0.051% | $3.0M | $716K | 75x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0598% | 1h | 0.02569 | −0.105% | $8K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02567 | −0.183% | $1.4M | $308K | 75x | as long as short |
| Kraken Futures PF_MONUSD | +0.0420% | 1h | 0.02571 | −0.009% | $270K | $78K | 10x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02569 | −0.086% | $125K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0480% | 1h | 0.02609 | +1.447% | $115K | $50K | 50x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
KuCoin MONUSDTM
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Kraken Futures PF_MONUSD
Perpl MON
Coinbase International MON-PERP-INTX